Andreessen Horowitz Denies Report of India Office, Calls it "Fake News"
SAN FRANCISCO, CA - Venture capital firm Andreessen Horowitz (a16z) has pushed back on reports suggesting it plans to open an office in India. Anish Acharya, a general partner at the firm, took to social media platform X to dismiss the claims as entirely fake news.
"We have no plans to open an office in India," Acharya wrote. "As much as I adore India and the many impressive founders-investors in the region, this is entirely fake news!"
A spokesperson for a16z confirmed Acharya's statement, referring to his post on X. The denial comes as a16z appears to be scaling back some of its international ambitions.
In January 2023, a16z opened an office in London after years of efforts by the UK government to woo the firm. However, just 18 months later, the office was shut down due to "strategic decisions," according to Sifted.
The reports of a potential India office had cited unnamed sources suggesting that the firm was preparing to establish a physical presence in Bengaluru and hiring a local partner.
Acharya's statement has sparked debate among industry insiders about the accuracy of reports on venture capital firms' expansion plans. "It's not uncommon for VC firms to deny or downplay their expansion plans, only to later confirm them," said a source close to the matter.
The denial of an India office by a16z may indicate a shift in the firm's international strategy. As the global startup landscape continues to evolve, venture capital firms are reassessing their expansion plans and focus areas.
A16z has been at the forefront of investing in Indian startups, with notable investments in companies like Flipkart and Ola. However, the firm's denial of an India office may suggest a shift towards more targeted investments rather than establishing a physical presence.
The current status of a16z's international expansion plans remains unclear. The firm has not provided further details on its strategy or future plans for expanding into new markets.
As the venture capital landscape continues to evolve, one thing is clear: the accuracy and reliability of reports on VC firms' expansion plans will remain under scrutiny.
*Reporting by Techcrunch.*
